Hundreds of properties in Quebec change hands every day, most of them without us knowing the exact details. That was before we became interested… Here are the latest transactions that caught our attention.
In Montreal, sales have plummeted following a bidding war over the past two years. But low inventory coupled with a prime location can – in rare cases – still attract multiple offers and trigger a process of bidding wars.
Forgues Gosselin Team, Sotheby’s
This is the case at 5270, rue Drolet, in Montreal, a small ground floor apartment of 716 square feet, nicely furnished, on the border between Plateau-Mont-Royal and Mile End.
The single bedroom, living room and bathroom unit is located on the ground floor of a semi-detached house built over a century ago (1900). The building, which has now been converted into undivided co-ownership, is now located on the corner of a community garden.
Forgues Gosselin Team, Sotheby’s
The apartment (which makes up 50% of the total) was listed for sale at the beginning of the summer for $399,000. After eventually attracting the interest of several buyers, the condo sold for $430,000, 7.8% more than the asking price.
At last valuation, this two undivided unit building was assigned a value of $648,000. This is a 38% increase from the previous valuation of $469,600.
In 2023, municipal taxes on this duplex were $3,878. A transfer tax of $4,793 will be added to the purchase price for buyers.
With the contribution of Philippe Langlois.
Excerpted from the Journal’s weekly real estate column. If you hear of an interesting transaction, do not hesitate to share it at [email protected].